UK ‘absolutely not’ facing blackouts or rationing, says energy minister

• Energy minister Michael Shanks stated the UK is "absolutely not" planning for blackouts or rationing, asserting the nation has a "strong and diverse range of supplies."
• This assurance comes amidst Iran's effective blockade of the Strait of Hormuz, a critical shipping route for oil and gas.
• Experts told MPs that Asian markets are facing a "big drought" of oil and gas due to the disruption, with Equinor reporting vessels caught in the situation.
• An energy consultancy described the situation as the "worst supply shock there’s ever been" for crude oil, noting Asian refiners are struggling while European counterparts are faring better.
• A former BP vice president warned of potential oil and gas shortages within two to three weeks, urging the government to plan and maximise North Sea energy development.